Can Your In-House Accounting Grow with Your Company?

Your business is growing fast. In the past couple of years, you have added multiple new locations and added new products to your line, along with adding employees to handle the growth.

As this growth continues, you begin to wonder if your accountant is able to keep up. When they were first hired, you had one location and they were able to handle the financials with ease. With new locations and a significant increase in volume, you now have concerns if the accuracy and timeliness of the financials will be impacted.

At this point, you start to consider adding additional staff to your internal accounting department or possibly outsourcing those services to client accounting services.

(Download Video Transcript)

Add to Your In-House Accounting Team

Finding qualified individuals to add to your accounting team can be a challenge. Whether you are looking for another accountant or looking to add other accounting positions to supplement your current accountant, you will need to dig deep to find the individuals you feel will help your company. After hiring them, you will have to train them so they know the processes and workflows within your accounting department and understand their roles and responsibilities.

Growing your accounting staff will also add to your payroll in wages and benefits. As time goes by and your business continues to grow, you will find yourself repeating this process over and over. As you keep adding to the accounting team, are you hiring people with different skills in different areas of accounting, or do they all have similar skills? You may find the need to have staff that can handle different aspects of accounting and will have to keep that in mind when hiring more staff.

RELATED CONTENT: BIZ TIP

HOW TO TRANSITION FROM IN-HOUSE TO OUTSOURCED ACCOUNTING

OPEN IN NEW WINDOW

Look at Client Accounting Services

Now you look to see what client accounting services have to offer. As you are doing your research, you start to notice some benefits to your liking:

Team Approach

With client accounting services, you get a team to help you. You may regularly communicate with one person but if that person were to leave, you will have others who know your business that can fill in seamlessly. You don’t have to worry about your accountant walking out and leaving you high and dry.

Industry Expertise

Many industries have specific regulations that an in-house accountant may not know about. You can look for an accountant that has specific expertise but that will make the hiring search more difficult, and that person could be a more expensive option. Firms that offer client accounting services usually have access to accountants who cover many industries and services and can pull them in to assist when needed. Again, this is the power of the team approach. Their expertise is always available to help you run your business efficiently.

Scalability

Have plans to continue to grow your company? Using client accounting services gives you access to many people who are there to help as your business grows. Their expertise can guide your growth, making CAS a great choice for businesses.

Peace of Mind

As a business owner, you want to focus on ways to grow your business and be on the frontline of that growth. Having to worry if your in-house accountant is capable of handling the growth is not something you want to be focused on. CAS can give you that peace of mind to know your accounting functions are being handled, which lets you focus on your customers, your employees, and your growth.

RELATED CONTENT: BIZ TIP

CAN OUTSOURCED ACCOUNTING SOLVE YOUR STAFFING CONCERNS?

OPEN IN NEW WINDOW

Hire a Team to Help Your Business Grow

As you continue to look at what client accounting services have to offer, you begin to see the scale tip in its favor. Even if the cost of using CAS services is the same or a little more than hiring an in-house accountant, you are not hiring a single person but a team of professionals with expertise in a wide variety of industries to help your business.

RELATED CONTENT: EGUIDE

UNDERSTANDING WHEN AND WHY YOU SHOULD OUTSOURCE YOUR ACCOUNTING

OPEN IN NEW WINDOW

On the Fence?

If you are in the situation above and still not sure if CAS is right for your business, please reach out to one of our professionals. They will listen to your needs and learn more about your business to give you the best advice possible regarding client accounting services.